European market

During this early harvest period, the heatwave is intensifying in France, with a number of departments placed on red alert and new heat records recorded yesterday in many regions. This strong heat wave is also affecting other European countries, with further increases in temperatures also expected by the weekend in Germany and the Benelux. The drop in temperatures, announced later, will obviously have to be confirmed. These strong heats impact the crops in place, in particular corn production. On Euronext, corn prices for 2026-27 harvests mark new highs on the November 2026 contract and are now trading above €220/t. In old harvests, prices are also moving up, returning to trade at comparable levels at the end of May.
The price increase is also visible for straw cereals, the barley and wheat harvests are progressing quickly despite the current conditions and the restrictions put in place at certain times of the day. In fact, the wheat prices of the September 2026 contract on Euronext go back above €209/t and regain the level of the end of May. The decline of the euro against the dollar is also a supporting factor, with the return of parity below 1.14 and especially a level at the lowest for more than a year.
In rapeseed, the harvests are progressing with results that disappoint in some areas. In terms of prices, rapeseed experienced a new progression yesterday during the session, returning above 520 €/t, before falling back at the end of the day. Faced with the easing of the euro against the dollar, which increases the price of imported volumes, European crushers observe the slight decline in Canadian canola prices. The latter is nevertheless still evolving on the support area of $740 CAD/t on the November 2026 contract in Winnipeg. The current hot weather also raises questions about the consequences for sunflower crops.

American market

The strengthening of the dollar against many currencies pushes the level of the "dollar Index" to evolve above 101.50, regaining its highest level since May 2025. This renewed strength of the dollar constitutes an element of decline in the prices of certain agricultural materials.
Already under pressure, corn prices are marking a new low, both in old and new harvests. The July contract, which is coming to an end soon, is trading very close to $4.05/bu. At the same time, the December 2026 contract was moving yesterday under $4.40/bu. The producers remain attentive to the evolution of the temperatures between now and the weekend. Indeed, the temperatures, for the moment mild, could increase in the coming days.
The downward movement is also observed in soybeans, with prices returning to test the recent lows. The July 2026 contract is approaching the level of $ 11/bu. In the new harvest, prices also evolve downwards in the wake of soybean oil and meal prices. Soybeans in Chicago, on the November 2026 contract, are trading below $ 11.40/bu and are even testing the technical support area of $ 11.30/bu.
The price of HRW wheat yesterday tried to stabilize above $6.25/bu on the September 2026 contract, after the downward movement in place since last week. The pressure of the harvest, despite disappointing volumes, constitutes an element of relaxation of prices. For SRW quality wheat, the movement is similar, with prices that are also trading down. The September 2026 contract now trades below the $6/bu level, close to the bottom of the range in which prices have been moving since the beginning of June.

Black Sea market

The prospect of a strong wheat production potential 2026-27 in Romania has led to a decline in prices since the beginning of June, like other markets in the Black Sea region.
The return of prices to levels close to those of mid-February leads to a repositioning of some players. On the CME market, new transactions were again observed yesterday on the CVB Black Sea wheat contract, after the volumes already traded at the beginning of the week. The September 2026 contract is currently displaying above $235/t.